Friday, January 31, 2020
Strategic Research Project Essay Example for Free
Strategic Research Project Essay This paper is about a strategic overview of Medtronic Inc. Medtronic is a global leader in medical technology- alleviating pain, restoring health, and extending life for people with chronic conditions around the world. Medtronic conducts business in more than 120 countries developing and manufacturing a variety of products and therapies with emphasis on providing a complete continuum of care to diagnose, prevent and monitor chronic conditions. Mission Statement The mission statement of Medtronic Inc. is to contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health and extend life. It is evident that Medtronic is meeting their mission statement. Medtronic is providing doctors with new therapy procedures through their research and development. Medtronic is able to design and modify medical devices that assist and meet the needs of physicians around the world. In addition, Medtronic is conducting business in more than 120 countries and focused on preserving the lives of individuals with medical needs and plagued with chronic health conditions. Medtronic’s mission statement is firmly preserved in all of its employees around the world that want to alleviate pain, restore health, and extend life.†It is apparent that Medtronic has not lost focus as to their purpose by the assistance to nearly 6 million people benefiting from therapies each year. Porter’s analysis of competition for Medtronic Inc. Rivalry among competitors Medtronic Inc. participates in the development, manufacture and marketing of medical devices. There are very few competitors in this field that include Johnson Johnson, Guidant Corp., St Jude and Boston Scientific Group. Medical devices that are developed cost a considerable amount of money and if they have to be recalled these costs have to be absorbed. These recalls are viewed by competitors as an opportunity to move in a particular direction in medical device development. Because of the threats from competitors and their debatable actions dispute resolutions often transfer to court rooms for litigation to determine rights to patents. This often leads to the delay in product development and an increase in costs associated court determinations. Potential entry of new competitors There are several obstacles that competitors will have to overcome in in the development, manufacture and marketing of medical devices. First, The Food and Drug Administration regulations are very specific and detailed. A competitor attempting FDA approval should expect a lengthy approval process. Once an approval is obtained they are not covered against product recalls that can cost a lot of money. Furthermore, recalls can tarnish the reputation of the company leading to a loss in consumer confidence. Secondly, the design and manufacture of medical products will require a solid understanding of the management of high end technologies. Next, competitors entering the market will spend a lot of money in the Research and Development in an economy where few companies willing to invest. Potential development of substitutes products Medical devices are considered a minimally invasive form of treatment and are considered a substitute for more invasive treatment procedures used in the past. Medtronic has several departments all working on product lines and are susceptible to other companies developing similar devices with the same purpose. This drives certain secureness when new procedures and equipment are developed preventing a competitor from knowledge and profit. Bargaining power of suppliers Just as the electronic industry, medical device makers send their work to a growing industry of contract manufacturers. These manufacturers do not have a lot of bargaining power due to the low customization of their work. The device makers do not rely on one manufacturer and can easily find another. This tactic enables device makers to deal with speed-to-market and the cost associated with closing plants and laying off employees. There is not an estimated increase to the bargaining power of the suppliers because new companies are not likely to develop products overseas due to the trouble in changing contracts to foreign manufactures. Bargaining power of consumers Some hospitals organize and group together to lower costs. These enables more bargaining power over the suppliers due to their collective size. This causes competitors have also to deal with the final payers that are sometimes the insurance company that try to minimize their costs and influence the type of patient care. Even if the buyers are not directly the doctors, the suppliers have to target them since they are advisers providing influence to the decision process. This gives tremendous bargaining power over the suppliers of medical devices enabling better competition and ability to absorb the pressures of the t healthcare system. Intensive Strategy of Medtronic Medtronic has seven main divisions and combines operations into a single operating segment. Market Penetration Medtronic’s market penetration in solidified in the Cardiac Rhythm Disease Management division where it is the world’s leading supplier of pacemakers. In addition, Medtronic’s holds over 50% Implantable Cardiac Rhythm Devices (ICD) Market share which contributes to 25% of Medtronic’s overall sales. Market Development Medtronic is continually moving toward innovation through their pursuit to develop markets in areas of healthcare distribution and treatments. They are have collaborative partnerships, product development and are pilots of new business models in several developing countries. Eli Lilly Company have partnered together in the field of Drug Delivery systems. Together they are working to develop treatments for Parkinson’s and Huntington’s diseases. They are engineering implantable pumps that allow the delivery of drugs directly to a targeted area of the brain bypassing the blood-brain barrier that restricts drug therapy for these diseases. Medtronic is also collaborating with Ford Motor Company to develop and integrate medical technology with the Sync in-car system. This mobile health monitoring system will monitor chronic heart conditions, diabetes and transmit alerts if a driver health puts them in danger. Medtronic is also leading numerous cities and hospitals in India increasing patient access to cardiac therapy and improve awareness through health promotions. Through these initiatives Medtronic has assisted in the developed a tiered service and financing program provides affordable health care. Product Development Medtronic has always led the way with many technologies and product lines, as shown with the first pacemaker in 1957. Medtronic has adopted policy that phases out its own products to make way for newer developments. Medtronic has a solid process of innovation improving their own products. This is accomplished by utilizing computer aided design systems that allow for an 80% reduction in the time required model complex designs and a 90% reduction in required production time. Medtronic’s product development reaches into marketing approaches in the areas of technical support, customer education initiatives and product line expansion and bundling. Collectively, this provides the motivation of lowering costs for product and process improvement. SWOT Analysis of Medtronic Inc. Medtronic engaged in engineering a range of medical devices and therapies. They have a large portfolio that is used to enhance its influence and market share. However, current and future health care policy changes may have a negative effect on the company. STRENGTH| WEAKNESSES| Diverse portfolio protecting risks- Strong Focus on RD capabilities- Product Innovation- Global presence with stable revenues| Issues with manufactured products and recalls reduce credibility of company| OPPORTUNITIES| THREATS| Global acquisitions prospects- Growth in emerging markets- Future product lines increase revenue and market share- positive demographics’ toward healthcare spending| Intense industrial competition in medical devices that affect share of market- Non-compliance with rules relating to reimbursement and regulation of healthcare services- Changing healthcare policies have negative affect on company| Strengths As a result of having a diverse product portfolio, Medtronic has a diversified stream of revenues and not heavily dependent on one particular business. For instance, during FY2011, the cardiac rhythm disease management contributed 31.4% of the total revenues of the company, spinal (21.4%), cardiovascular (19.5%), neuromodulator (10.0%), diabetes (8.5%), surgical technologies (6.5%). Weakness In July 2011, Medtronic recalled its SynchroMed II implantable infusion pump because it had reduced battery performance. This recall if not corrected could lead life threatening withdraw symptoms to patients with these pumps. Opportunities Medtronic has a good track record of acquisitions. In January 2011, the company acquired Ardian, a privately-held company engaged in developing catheter-based therapies to treat hypertension and related conditions. This acquisition augmented Medtronics existing interventional therapies. Emerging markets are set to become the chronic disease centers of the world. By 2015, China and India will be the largest cardiac markets, and by 2017, the prevalence of type 2 diabetes in India will increase to more than 60 million cases from 28 million cases in 2007. To exploit the growth opportunities in these markets, Medtronic is expanding its presence by building distribution, training, education, and other healthcare infrastructure needed to ensure greater access to its products and therapies. Threats Medtronic is competitive in more than 120 countries around the world and encounters opposition from various product lines and markets that similar products are sold. Major competitors from Boston Scientific, St. Jude Medical, Johnson Johnson, and Abbott Laboratories add pressure to areas of product reliability, performance, quality, and price. US Department of Health and Human Services along with foreign governments regulate the devices produced and health services provided by Medtronic to ensure the cost and quality. Recent US health care legislation and policy changes re aimed at controlling costs and limit the amount that Medtronic can charge for medical devices and therapies. This is evident when, President Obama signed into law the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act imposing new taxes on medical device makers. Conclusion Medtronic is a world leader in medical technology- alleviating pain, restoring health, and extending life for people with chronic conditions. Medtronic with its relentless pursuit to bring affordable healthcare through therapy and medical devices should continue with current strategies. Over the next five years, it is beneficial for Medtronic to further explore emerging markets bringing innovative ideas to healthcare officials. Continuance in research and development will continue to reform traditional healthcare with micro-sized implant devices. Continued mission focus to alleviate pain, restore health, and extend life†will further propel Medtronic as a medical development leader.
Thursday, January 23, 2020
Pirates terror of the high seas :: essays research papers
I. Introduction      A. Argggggghhhhhhhhh!!!!!!! Ahoy me mates and welcome to the world of pirates.      B. through the next few minutes I will be informing ye about pirates and their rage on the high seas.      C. We will be talking about pirates, their ships, weapons, and a few famous ones at that.      D. I myself have been interested in pirates since I was a wee lad.      A. Ships           1. Galleon                a. â€Å"The Spanish Galleon was the great prize ship for pirates.†               (History of Pirates)                     1. Spanish armada used these ships to export gold from the                     Americas.                b. Weight of cannons was concentrated to center part of the ship.                     1. Used for stability.                c. Meant to cross the Atlantic in large convoys.           2. Sloop                a. â€Å"The ancestors of the modern yacht.†(History of Pirates)                b. Favored among pirates because of its agility.                     2. Pirates relied on bluff and surprise.                c. Pirates of the Caribbean used these ships.                     1. Best sloops were built in Bermuda and Jamaica.           3. Men-O-War                a. Ship Of the Line                     1. â€Å"Main battle ship of a Navy†                    2. Largest of Men-O-War.                     3. Carried between 32 to 144 guns.                                   b. Frigate                     1. â€Å"Was the midsized Man-O-War†                    2. Had three masts but was conciderable smaller than the                     Ship Of the Line.                     3. Had one gun deck, but kept other cannons on the spare                     deck.                              c. Corvette                     1. â€Å"sometimes called a ‘sloop of war’†                    2. had her guns arranged on a single deck.                     3. had the ability to maneuver easily.           4. Now we must cover the terror they unleashed with their weapons.      B. Weapons           1. Cutlass                a. â€Å"A rough heavy broad blade†(History of Pirates 107)                b. Shortness of the blade was an advantage when fighting aboard                a ship.                c. Was a great hacking weapon due to its curved blade and                heaviness.                d. Was often used as a tool as well.           2. Blunderbuss/pistols                a. â€Å"more like a hand-held cannon then a rifle†               (History of Pirates 113)                b. Ranged in length from about 14 to 30 inches.                c. When used in close range it could kill about seven people.                d. â€Å"Pirates prized pistols above all other weapons†               (History of Pirates 115)                e. Pirates used to carry several pistols hanging on a sash into battle.                f. they were usually loaded from the barrel of the gun with                prepared shoot powder and bullets.           3. Cannons                a. ranged in different sizes by being called pounders.                b. could range from 2 to 32 pounders on board a ship                c. swivel guns were mounted on the poop deck to stop boarders.                d. the main cannons were mounted on rolling carts and strapped
Tuesday, January 14, 2020
Dr. Watson to reveal Essay
Sir Arthur Conan Doyle shows Sherlock Holmes as a highly intelligent individual. We are shown Holmes’ intelligence from his good friend Dr. Watson. We learn that Holmes is very methodical in his deductive ways; this is shown in â€Å"The Speckled Band†, as Watson describes the movements of Sherlock Holmes, and how he â€Å"sits in his usual way†. This tells us the type of character that Holmes is; Holmes uses the power of deduction in a clinical way. This is shown as Sherlock Holmes tells Helen Stoner how she arrived to his house. Holmes explains how the mud on the left side of her jacket could only be from the dogcart she used, â€Å"there is no vehicle save a dogcart which throws up mud in that way, and then only when you sit on the left-hand side of the driver†. In â€Å"The Speckled Band†we also see the type of character Holmes is, we learn that Holmes’ intelligence is greater than any of the common man, but we also see Holmes’ strength as Dr. Roylott, the step-father of Helen Stoner, bends an iron poker out of shape. As Dr. Roylott leaves, Holmes bends the poker back into shape. In this passage we also see how Holmes tells Watson how he is compared to the official police force, â€Å"Fancy having the insolence to confound me with the official detective force! †This shows us how highly Holmes thinks of himself. Later in the novel we see the medical genius of Holmes, as he shows Watson how two little bite marks are left on the corpse, and how the victim must have been poisoned. This tells us that Holmes is very observant and self-explanatory in his investigations, with the aid of his friend Dr. Watson. Holmes observations and knowledge are also shown in â€Å"The Five Orange Pips†, this is shown as Holmes explains how his late guest joins them, â€Å"You have come up from the south-west, I see. †â€Å"Yes from Horsham. †â€Å"That clay and chalk mixture which I see upon your toe-caps is quite distinctive. †this tells us how Holmes knowledge and observation of the places he has visited. Also in this passage we see that Holmes is known around the country as he has helped many other people, †I have heard of you, Mr. Holmes. I heard from Major Prendergast how you saved him in the Tankerville Club Scandal†We also learn that Holmes has been defeated in his quest for justice. â€Å"I have been beaten four times- three times by men and once by a woman. †This shows the character of Holmes, accepting that these people have beaten him. In â€Å"The Five Orange Pips†we see how excited by this case and how it is â€Å"One of the most remarkable to which I have listened. †This also tells us that Holmes intelligence has still not heard of such deaths and murders. This shows his character, as he still wants to solve cases, in which he doesn’t know what is going to happen. We also see that Holmes gives advice to the man who has asked for help; Holmes tells him that he should act upon the situation. However when the man told the police, they laughed. Then Holmes cries â€Å"Incredible imbecility! †this shows how Holmes believes that the police are ignorant, like in â€Å"The Speckled Band†. We also learn about the type of skills and intelligence that Holmes picked up, this is shown to us by Dr. Watson, â€Å"Botany variable, geology profound as regards the mud stains from any region within 50 miles of town, chemistry eccentric, autonomy unsystematic, sensational literature and crime records unique, violin player, boxer, swordsman, lawyer, and self-poisoner by cocaine and tobacco. Those, I think, were the main points of my analysis. †This tells us the amount of studying and how intelligent Holmes is.
Monday, January 6, 2020
The Use of Digital Fabrication in the Architectural Design Free Essay Example, 3750 words
In order for a given geometric configuration to be realized through digital fabrication, a detailed geometry is required. A system of elements can then be obtained from based on the detailed geometry that is provided. Also, the digital fabrication process can be integrated with the iterative design process and the elements required may grow exponentially. This is as a result of the fact that as the design process advances, more geometric configurations are added and this add some details to the given surface. The description of the NURBS surface is defined systematically to create a supporting framework of ribs. Programming techniques can then be used to extract the geometric information that is contained within each NURBS surface. This is the final information that is used to generate templates that are used in the digital fabrication process (Piegl and Tiller, p. 48). It should be noted that digital fabrication has played an important role in redefining the traditional architectur al design process. Through the adoption of digital design principles, a designer can closely integrate the design process and the physical representations that are obtained. We will write a custom essay sample on The Use of Digital Fabrication in the Architectural Design or any topic specifically for you Only $17.96 $11.86/page
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